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Imarex trades US$ 1.25 billion

Imarex trades US$ 1.25 billion
THE notional value of Freight and Fuel Oil contracts traded on Norwegian freight futures market IMAREX and cleared at NOS in July rose 126% compared to July 2006, ending the month at US$ 1.25 Billion.

IMAREX TRADES US$1.25BN

THE notional value of Freight and Fuel Oil contracts traded on Norwegian freight futures market IMAREX and cleared at NOS in July rose 126% compared to July 2006, ending the month at US$ 1.25 Billion, the market's best July ever.

“In July we retained the momentum from the first half of 2007 and we are continuing our focus on growing the volume of freight and fuel oil derivatives that are traded with us. We saw increases in tankers, fuel oil and options and our dry bulk team benefited well from the current strong shipping market. This is a good start to Q3 for us,” says Managing Director of the International Maritime Exchange ASA (IMAREX), Herman Michelet

In the tanker sector a total of 1,055 trades were concluded by members and OTC clients, up 38% on the same period last year and up from 818 trades in June. A total of 14,395 lots in tanker futures (14 million tons) were traded via IMAREX, up 3% compared to the 14 005 lots traded in the same period last year. The notional value of tanker transactions at IMAREX was US$285m, up 17% from US$243m traded in the same period last year. Tanker futures accounted for 51% of volume traded at IMAREX NOS, and 23% of the notional value traded at the exchange.

Combined dry bulk volumes cleared at NOS and traded at IMAREX was 9,259 lots (where 1 lot is 1 day of time charter or 1000 metric tons of freight), down 8% from the 10 038 lots traded in July 2006. The notional value of contracts traded was US$441 million, up 127% compared to the same period last year. A total of 129 dry bulk derivatives transactions in July compares to 102 transactions in the same period last year.

www.TurkishMaritime.Com.tr

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